Herne Hill: First-home buyer lands half a house that’s fully renovated at auction

The facade at 42 Fraser Street, Herne Hill.

A determined first-home buyer outlasted three other parties to secure his slice of Herne Hill after winning the keys to 42 Fraser Street at auction on Saturday.

The young Geelong gentleman, who didn’t actually intend to bid on the day, pounced on the opportunity to take ownership of the entry-level weatherboard home.

The one-bedroom, one-bathroom weatherboard house, described by the selling agent as half a house on a 478sq m block, sold for $628,000.

Buxton, Newtown auctioneer Tom Butters said “strong markets call for strong buyers and bidders,” shortly before calling for bids at $460,000.

Auction at 42 Fraser Street, Herne Hill

A big crowd turned out to watch the auction of 42 Fraser Street, Herne Hill. Picture: Mike Dugdale.

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And, it wasn’t long before the fingers went flying, with a flurry of bidding pushing the price well past the estimated price range of $469,000 to $499,000.

Auction at 42 Fraser Street, Herne Hill

Buxton, Newtown selling agent Scott Roncon and auctioneer Tom Butters are all smiles at the auction of 42 Fraser Street, Herne Hill. Picture: Mike Dugdale

Buxton, Newtown selling agent, Scott Roncon said the buyer had been trying to get into the market for a while, and that he’s got big plans for his new pad.

“It was a huge result,” Mr Roncon said

“The young gentleman has missed out on a few properties and didn’t want to miss this one.

“He’s a builder who wants to get in and finish the home, renovate and extend and make it a family home.

“I’ve actually sold that property three times and it’s great that someone’s going in there to finish the job.”

The house has one bedroom, bathroom, living room and kitchen and has been fully renovated

The swish kitchen has plenty of benchspace, cabinetry and a dishwasher, while bi-fold doors link to the backyard.

The home is filled with natural light.

Mr Roncon said before the auction that the price guide had determined on its land value at $1000 per square metre because buyers would need to plan for the extension.

Perched on a 478sq m allotment, the block offers plenty of space for the extension.

The property last traded in 2018 for $479,000.

The spacious north facing backyard.

As for location, schools, parks, sporting reserves, Minerva Road and the Geelong Ring Road are all within easy reach.

Herne Hill’s median house price is $614,000, according to Hometrack data.

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